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- August 14: No changes.
- August 13: Soybean producers: Increase old-crop, new-crop sales. Soybeans continue to show robust strength and have rallied for three consecutive sessions. Prices are just below our $10.50 target, but are at multi-month highs and the opportunity is too good to pass up. The hefty supply and selling pressure in corn could limit further upside and the old-crop marketing year is coming to a close in the next few weeks. We advise soybean hedgers and cash-only marketers to sell 15% of 2024-crop production to get to 90% priced. We also advise sales of 10% of expected new-crop production to get to 20% priced. Old-crop and new-crop fundamentals remain supportive, but without Chinese export demand, the upside seems limited. We will re-think new-crop sales during Crop Tour and advise on the remaining 10% of old-crop in the next couple weeks.
- August 12: No changes.
- August 11: Soybean producers: Increase 2024-crop sales. August soybeans rebounded to multi-week highs as Trump comments encouraging China to buy U.S. beans led to nearly a quarter gain. Tomorrow’s update on 2025 production leaves the market in a precarious place. We advise soybean hedgers and cash-only marketers to sell another 10% of 2024-crop production to get to 75% priced. Our next upside target would be the $10.25 level in nearby futures. Old-crop and new-crop fundamentals remain supportive, but the market is waiting on China purchases. We will hold off on new-crop sales at this time.
- August 8: No changes.
*Note: Check below daily to see if we recommend catch-up sales for individual markets.
Corn | |
|---|---|
| Cash-only marketers | 2024 crop: 70% sold 2025 crop: 20% forward sold |
| Hedgers — cash sales | 2024 crop: 70% sold 2025 crop: 20% forward sold |
| Hedgers — futures/options | No position. |
| Wait on an extended corrective bounce to increase sales. | |
Soybeans | |
| Cash-only marketers | 2024 crop: 90% sold 2025 crop: 20% forward sold |
| Hedgers — cash sales | 2024 crop: 65% sold 2025 crop: 10% forward sold |
| Hedgers — futures/options | No position. |
| Wait on a move back to the recent highs or higher to make additional old- and new-crop sales. | |
Wheat | |
| Cash-only marketers | 2025-crop: 30% sold. 2026-crop: 10% forward sold. |
| Hedgers — cash sales | 2025-crop: 30% sold. 2026-crop: 10% forward sold. |
| Hedgers — futures/options | none |
| Be prepared to increase sales if recent gains are extended. | |
Cotton | |
| Cash-only marketers | 2024 crop: 100% sold |
| Hedgers — cash sales | 2024 crop: 100% sold |
| Hedgers — futures/options | No position. |
| We will wait on recommendations for new crop sales until an extended rally allows for opportunity. | |
| Livestock | |
Cattle | |
| 3rd qtr. 2025 | 0% |
| 4th qtr. 2025 | 0% |
| 1st qtr. 2026 | 0% |
| 2nd qtr. 2026 | 0% |
| Fed cattle producers should continue to carry risk in the cash market. | |
Hogs | |
| 3rd qtr. 2025 | 0% |
| 4th qtr. 2025 | 0% |
| 1st qtr. 2026 | 0% |
| 2nd qtr. 2026 | 0% |
Carry all production risk in the cash market.
| |
Feed | |
| Corn | |
| 3rd qtr. 2025 | 100% |
| 4th qtr. 2025 | 33% |
| 1st qtr. 2026 | 0% |
| 2nd qtr. 2026 | 0% |
| You have all corn-for-feed needs through October covered in the cash market. | |
| Meal | |
| 3rd qtr. 2025 | 100% |
| 4th qtr. 2025 | 50% |
| 1st qtr. 2026 | 0% |
| 2nd qtr. 2026 | 0% |
| You have full coverage in the cash market through September, with half of your needs for October, November and December covered in cash. |